Tag: CBN
Naira nears key N1,350/$ mark as FX market confidence improves
The naira gained almost N10, closing at N1,357 per dollar, compared to N1,375.5/$ at the beginning of May. This means…
Dollar-Naira gap persists as parallel market hits ₦1,410
According to the Nigerian Foreign Exchange Market (NFEM), the official exchange rate is about ₦1,375.98 per dollar. Earlier in the…
Senate confirms Yuguda as CBN Deputy Governor, Onuwu as NDIC Director
Abiru in his report said the committee received the resumes of the nominees and screened them accordingly.
Forex pressure mounts as Nigeria’s reserves slide in April
Nigeria’s foreign reserves dropped by about $731 million in the first three weeks of April 2026, showing continued pressure on…
CBN, NCC launch joint offensive against SIM-linked fraud
Speaking at the signing, CBN Governor Olayemi Cardoso described the pact as a decisive move in the national interest, stressing…
CBN admits inflation jumped but says worse was avoided
The Central Bank of Nigeria (CBN) has pushed back against concerns over a sudden rise in inflation, arguing that its…
CBN introduces age limit, Phone change rules for BVN holders
This approach is designed to help banks quickly detect potential fraud while giving customers an opportunity to clarify any issues.
33 Banks meet targets as CBN concludes ₦4.65trn Recapitalisation Drive
The Central Bank of Nigeria (CBN) has concluded its sweeping banking sector recapitalisation programme, with lenders raising ₦4.65 trillion in…
Cybersecurity: Nigerian banks face tight CBN deadline
The Central Bank of Nigeria (CBN) has issued a strict directive to banks and other financial institutions, requiring them to…
Forex market tension grows as Naira slips to N1,383/$
The naira weakened slightly to N1,383.5 per dollar on Tuesday, down from N1,383 per dollar recorded on Monday, as pressure…
CBN affirms commitment to inflation targeting monetary policy
The deputy governor said that the transition to an inflation-targeting framework marked a significant shift toward a transparent, forward-looking, and…
13th Global Awards: Nigeria’s CBN scoops Central Bank of the year title
Although progress has been made, the CBN says challenges still remain, such as maintaining low inflation and completing banking reforms.
CBN sets age limit, One-time phone change in new BVN rules
Financial institutions are also required to create a temporary watchlist for BVNs linked to suspicious transactions. Such BVNs can remain…
Reactivating Dormant Accounts Just Got Easier – CBN announces new rules
The CBN also addressed concerns about data privacy and stated that the disclosure requirements comply with Nigerian data protection laws.
Why the CBN Is Managing the Naira’s Rise Carefully
Many observers assume that policymakers should celebrate a sharply rising currency. A stronger naira reduces the cost of imports and…